SBI Holdings, FPT Corporation, and Sumitomo Corporation are working together to develop an AI cloud offering in Japan.

Majority owned by FPT, the offering is known as FPT Smart Cloud Japan and will offer GPU cloud resources.

FPT will own 60 percent of FPT Smart Cloud Japan Co., while SBI and Sumitomo hold 20 percent each.

The joint investment was announced on April 22, 2025, and is expected to close by May 2025.

FPT Corporation is a technology and IT service provider headquartered in Vietnam, and is a partner company of Nvidia, giving it access to GPUs. The company launched its FPT AI Factory in Japan in November 2024 and established FPT Smart Cloud Japan to develop an AI cloud offering at the same time.

The company plans to offer Nvidia H200s via its GPU cloud.

The three companies will work together to develop new AI solutions, seeking to improve their research capabilities and bring generative AI to clients.

FPT founder and chairman Dr Truong Gia Binh said: “Sharing a common vision for the transformative potential of AI, we are working closely with our strategic partners to expand the global application of AI technologies.

“This partnership also contributes to fostering innovation, strengthening organizational competitiveness, and maintaining technology autonomy, supporting Japan’s goal of becoming an AI nation.”

SBI Holdings - also known as Strategic Business Innovator Group - is a Japanese financial services company. SBI has previously invested in FPT businesses, including FPT Securities, FPT Fund Management, and TPBank.

FPT has three data centers operating in Vietnam, located in Hanoi and Ho Chi Minh City, and an "AI factory" in Japan.